Merck (MRK.N) notched its largest intraday gain since 2009, climbing more than 12%.

邁威爾科技(MRVL.O)上漲10.8%。

UBS said Baidu's Q2 results were weak. AI cloud infrastructure revenue rose 50% YoY, down from 79% in Q1; UBS attributes the slowdown to revenue-recognition timing but says compute demand for AI training and inference remains healthy. UBS now expects H2 growth to reaccelerate above 60% as existing clients boost spending and the customer base expands, and has slightly raised its H2 AI cloud infrastructure growth forecast to >60%. The bank trimmed H2 core operating profit forecasts by 6% to reflect higher R&D spending, left full-year core revenue broadly unchanged, cut full-year non-GAAP net profit by 27%, lowered its target price to HK$155 (from HK$165) and kept a Buy rating.